Europe Day Ahead: Service sector in spotlight

Here's our look ahead of Friday's key political and financial events and has -- -- first week of the year draws to a close. Once again its economic days after the main focus for investors after Wednesday's look at the manufacturing sector tomorrow it's the service sector. Against the PMI treatment Germany expects to stay above fifty. Signifying expansion. A different story though for the Euro zone as a whole that's expected to remain mine below fifteen contraction territory. I chest I was young Rondo says German industry not service says that's the key to European recovery. Again the key question is -- and the big industrial powerhouse. Whether we become less Sandra cyclical manufacturing and cost recovery. Like we sold 34 years ago. I'm not really dependent on it able to its -- to the promising economies around the world one is China and -- the US. So that's the key country to look at if one looks at the overrule European economic equation full cost. Here in Britain a slight uptick in December services PMI is full cost of the growth slowed to its slowest pace in nearly two years the month before. In the US it's that nonfarm payroll time of the month again employment expected to have expanded by 150000. Jobs last month. After gaining 146000. In November economists though are looking for a break above the 200000. Mark to be more convinced that a sustained recovery. Is on the way earlier in the day retail sales figures out of Germany expects to rebound into positive territory -- all Terry was bigger than expected drop. Germany's retail association said it expected sales to grow to a record eighteen billion euros. In the Christmas season or so in Germany Chancellor Angela Merkel gave her first election campaign speech in the Lower Saxony region. The election will take place September or October this year. Kosher -- is the most popular politician in Germany. With 81% saying she's doing a decent joke. Finally company news and and its releases its latest traffic figures the Irish government says it's decided to oppose. Ryan has been to take over and -- off to studying details of the plan. Advises will be appointed shortly to sell the government's 25%. Stake in the former state. That's a look ahead to Friday I'm axle problems Israelis.

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